O-I Glass, Inc. (NYSE:OI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of O-I Glass, Inc. (NYSE:OI) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $22.67.

Several research analysts have recently commented on the company. UBS Group began coverage on O-I Glass in a research report on Tuesday, January 16th. They issued a “buy” rating and a $26.00 price target for the company. StockNews.com downgraded O-I Glass from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Citigroup downgraded O-I Glass from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $17.00 to $18.00 in a research note on Wednesday, January 3rd. TheStreet downgraded O-I Glass from a “b-” rating to a “c-” rating in a research note on Tuesday, February 6th. Finally, Barclays boosted their target price on O-I Glass from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th.

Institutional Trading of O-I Glass

Several large investors have recently added to or reduced their stakes in OI. Leeward Investments LLC MA boosted its stake in shares of O-I Glass by 36.0% in the first quarter. Leeward Investments LLC MA now owns 623,129 shares of the industrial products company’s stock worth $10,338,000 after buying an additional 165,103 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of O-I Glass in the first quarter worth about $2,258,000. Diversified Trust Co boosted its stake in shares of O-I Glass by 15.1% in the first quarter. Diversified Trust Co now owns 45,772 shares of the industrial products company’s stock worth $759,000 after buying an additional 6,020 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in shares of O-I Glass by 44.0% in the first quarter. Hennessy Advisors Inc. now owns 204,300 shares of the industrial products company’s stock worth $3,389,000 after buying an additional 62,400 shares during the last quarter. Finally, Thompson Investment Management Inc. boosted its stake in shares of O-I Glass by 84.2% in the first quarter. Thompson Investment Management Inc. now owns 393,883 shares of the industrial products company’s stock worth $6,535,000 after buying an additional 180,093 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

O-I Glass Trading Down 5.5 %

OI opened at $14.57 on Friday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -19.43, a PEG ratio of 1.04 and a beta of 1.35. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 2.69. O-I Glass has a 12 month low of $13.56 and a 12 month high of $23.57. The stock has a fifty day moving average price of $16.16 and a 200-day moving average price of $15.64.

O-I Glass (NYSE:OI) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. O-I Glass had a positive return on equity of 24.90% and a negative net margin of 1.45%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. As a group, equities research analysts anticipate that O-I Glass will post 2.37 earnings per share for the current fiscal year.

About O-I Glass

O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.